Russia: RUSAL owners vote for change of registration

The shareholders of the Russian aluminum producer RUSAL voted for re-registration of the company to Russia from the Jersey Island at an extraordinary meeting on August 1, according to a statement on the Hong Kong Stock Exchange.

After changing the jurisdiction, the company will attain an international status and will be able to carry foreign currency transactions without restrictions. The company will receive tax incentives, in particular, a reduction of the profit tax on the profit attained through dividends and sale of shares.

Economic Development Minister Maxim Oreshkin said earlier that RUSAL and En+ could change the jurisdiction to a special economic zone near Kaliningrad until the end of 2019. (Prime/Ukrainian metal)